PNC Declares Dividend of $1.60 on Common Stock

Rhea-AI Summary

The PNC Financial Services Group, Inc. (NYSE: PNC) has declared a quarterly cash dividend of $1.60 per share on its common stock, payable on Nov. 5, 2024, to shareholders of record as of Oct. 16, 2024. The board also announced dividends on various series of preferred stocks, including Series B, R, S, T, U, V, and W, with different payment dates and amounts. PNC is one of the largest diversified financial services institutions in the United States, offering retail and business banking, specialized services for corporations and government entities, and wealth and asset management.

Positive

• Declared quarterly cash dividend of $1.60 per share on common stock
• Announced dividends on multiple series of preferred stocks
• Demonstrates financial stability and commitment to shareholder returns

Negative

• None.

PITTSBURGH, Oct. 3, 2024 /PRNewswire/ -- The board of directors of The PNC Financial Services Group, Inc. (NYSE: PNC) declared a quarterly cash dividend on the common stock of $1.60 per share. The dividend will be payable Nov. 5, 2024, to shareholders of record at the close of business Oct. 16, 2024.

The board also declared a cash dividend on the following series of preferred stocks:

• Series B: a quarterly dividend of 45 cents per share will be payable Dec. 10, 2024, to shareholders of record at the close of business Nov. 15, 2024.
• Series R: a quarterly dividend of $2,102.43 per share ($21.0243 per each depositary share, 100 of which represent one share of Series R preferred stock) at a quarterly rate of 2.10243%, with a payment date of Dec. 1, 2024, will be payable the next business day to shareholders of record at the close of business Nov. 15, 2024.
• Series S: a semi-annual dividend of $2,500.00 per share ($25.00 per each depositary share, 100 of which represent one share of Series S preferred stock) will be payable Nov. 1, 2024, to shareholders of record at the close of business Oct.16, 2024.
• Series T: a quarterly dividend of $850.00 per share ($8.50 per each depositary share, 100 of which represent one share of Series T preferred stock) with a payment date of Dec.15, 2024, will be payable the next business day to shareholders of record at the close of business Nov. 29, 2024.
• Series U: a quarterly dividend of $1,500.00 per share ($15.00 per each depositary share, 100 of which represent one share of Series U preferred stock) will be payable Nov. 15, 2024, to shareholders of record at the close of business Oct. 31, 2024.
• Series V: a quarterly dividend of $1,550.00 per share ($15.50 per each depositary share, 100 of which represent one share of Series V preferred stock) with a payment date of Dec. 15, 2024, will be payable the next business day to shareholders of record at the close of business Nov. 29, 2024.
• Series W: a quarterly dividend of $1,562.50 per share ($15.6250 per each depositary share, 100 of which represent one share of Series W preferred stock) with a payment date of Dec. 15, 2024, will be payable the next business day to shareholders of record at the close of business Nov. 29, 2024.

The PNC Financial Services Group, Inc. is one of the largest diversified financial services institutions in the United States, organized around its customers and communities for strong relationships and local delivery of retail and business banking including a full range of lending products; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. For information about PNC, visit www.pnc.com.

CONTACTS

MEDIA:
Kristen Pillitteri
(412) 762-4550
media.relations@pnc.com

INVESTORS:
Bryan Gill
(412) 768-4143
investor.relations@pnc.com

 

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SOURCE The PNC Financial Services Group, Inc.

FAQ

What is the amount of PNC's quarterly dividend on common stock?

PNC has declared a quarterly cash dividend of $1.60 per share on its common stock.

When will PNC's common stock dividend be paid?

The dividend on PNC's common stock will be payable on November 5, 2024.

What is the record date for PNC's common stock dividend?

The record date for PNC's common stock dividend is October 16, 2024.

Has PNC declared dividends on its preferred stocks?

Yes, PNC has declared dividends on various series of preferred stocks, including Series B, R, S, T, U, V, and W.